Anglo African Oil & Gas Share Discussion Threads

[matunde24] 12/12/2019 12:02

I bet muppets got stuck thought buying at 0.9 it will make Their day trade.. But look now.. Tampon is in hiding

[deltalo] 12/12/2019 11:40

Totally agree,

[apfindley] 12/12/2019 11:22

An overreaction yes, but I wouldnt call it a minor setback.The company has enough cash as working capital, but not enough to pay for a drilling as they were expecting snpc to have paid what's owed by now.Theres 25mill debt finance available for field development, but that wont be available until theyve drilled this well first to prove a commercial and working oil system (it very likely will be, but the 25mill wont be coming until its proved so)Equity raising isn't a good idea at this price. They now need either snpc to pay up, or to secure some other debt finance for a single well, secured against the company. What a pickle .....meanwhile, underground, theres a load of oil just waiting.

[deltalo] 12/12/2019 10:55

Anyone would think they've announced a duster by the sp, The 5m will come and as they stated, they'll acquire another rig to save time. An over reaction to a Miner setback.

[seagreen] 12/12/2019 09:46

APF well I never said that I have always said the geology is hugely promising if they could have got it to flow commercially on a timely basis ...

FWIW the word on the street is that the existing team have a very bad if any relationship at all with SNPC. Sefton sacked the man with the relationship and the local drilling experience (share price them 27p) and thought he could bully SNPC into agreeing favourable new licence terms and doing what he said (those days are long gone it is not a colony anymore) ..why do you think Sefton left with a full year's salary and benefits he knew the project was dead so left all his cronies to drown with a fist full of dollars and a Tunisian asset in his and Berwick's hands that all the dd had been paid for....SNPC have been quoted as saying the drill at TLP 103c was the worst drilled in Congo in living memory and are furious...

If I was a shareholder I would be round begging at the former directors doors who were sacked and gagged by Sefton to come back on board to try and help but I suspect its too late for that

I would also be actively canvasing AIM and the FCA for a full investigation into what is virtually a fraud or minimum the highest level of total incompetence on AIM I have ever seen

[andrzejs1] 12/12/2019 09:42

What a scam !

[escapetohome] 12/12/2019 09:33

The answer to that conundrum is AFRICA.

Thats where this is sort of situation happens. Someone not paying up. Take em to court, good luck if thet have political friends.

[mesk1234] 12/12/2019 09:31

I wasnt wearing my glasses sorry for incorrect information from further checks it was just a bird house.

[apfindley] 12/12/2019 09:31

My main disagreement has been where anyone has falsely stated there was no oil.Aside from management incompetence, the main problem seems to be the partner. They have paid nothing towards the original drills. Relectsnly paid a small amount back, which has now ceased. They still owe 5.x mill. They gave aaog option on a rig which THEY own through their sister company, and have now pulled the plug, likely because AAOG are pushing for the previous drilling back costs still due.So why can't they foot the bill for this next drilling to make up for their previous non payment, afterall they do indirectly own the rig that was supposed to be used.

[escapetohome] 12/12/2019 09:31

Lets face it in This game it can go either way.

Seagreen was on the right side this time .

[seagreen] 12/12/2019 09:24

Oh and I think Tame said they could not raise money at 1p...hey ho thats shut the door time and turn out the lights

[mesk1234] 12/12/2019 09:16

I was right all along. There is no hope here. Told people to take their money out and reinvest somewhere else a long time ago. The management are scums. They have ruined this company and lost alot of people alot of people money. Mr Tampon, I'm very interested to hear your opinion now. What will it take for you to stop sucking up to this company??

[escapetohome] 12/12/2019 09:13

Lets face an unpalatable truth winnifroth was right here.

[matunde24] 12/12/2019 09:10

And mugs think buying today for a quick swing... Its armegeddon!

[escapetohome] 12/12/2019 08:59

The land of nod. I wouldnt believe a word they say from now on.

Luckily no holding here to speak of.

[acuransx] 12/12/2019 08:44

Tampon now do you need tampons for your backside bleeding

[aaogplc] 12/12/2019 08:43

Explains why Sister Holdings massively reduced their holding last week.

[money4me] 12/12/2019 08:08

Collosal failure by management. They are a disgrace

[supercity] 12/12/2019 07:41

No doubt the resident 'love in' poster will tell us again we were wrong about this company and the drop today will be a fantastic buying opportunity.It just gets worse for investors.